Inflation to reach 4.5%

According to the report, this year's inflation rate will be 3%, higher than last year's figure.

The reason for this increase is said to be the changes in the prices of public services. Price rises in healthcare and education contributed about 3% to the 4% inflation from January to October. Overall, inflation rate in 2016 is forecast to reach 4.5%.

The NFSC also predicted that inflation in 2017 may stay at 3.5% or 5%, depending on price changes in healthcare and education.